ENADE Ciências Econômicas Practice Questions - ENADE Ciências Econômicas - Exame Nacional de Desempenho dos Estudantes Exam - ENADE Ciências Econômicas Practice Questions - ENADE Ciências Econômicas - Exame Nacional de Desempenho dos Estudantes Exam

Question 1

In neoclassical consumer theory, consumer preferences over consumption bundles in $\mathbb{R}^n_+$ are assumed to satisfy fundamental rationality axioms. Which axiom guarantees that indifference curves cannot cross each other in two-dimensional commodity space?

Transitivity (Transitividade das preferências). Local Non-Satiation (Não saciedade local). Completeness (Completude das preferências). Strict Convexity (Convexidade estrita).

Correct Answer:

Transitivity (Transitividade das preferências).

Question 2

A consumer has the Cobb-Douglas utility function $U(x_1, x_2) = x_1^\alpha x_2^\beta$, where $\alpha > 0$, $\beta > 0$, and faces prices $p_1 > 0$, $p_2 > 0$, and income $I > 0$. What is the fraction of total income allocated to good 1 at the interior utility-maximizing optimum?

$$\frac{\alpha}{\beta} \cdot \frac{p_2}{p_1}$ $$\frac{\alpha}{\alpha + \beta}$ $$\frac{\alpha \cdot p_1}{\alpha + \beta}$ $$\frac{\beta}{\alpha + \beta}$

Correct Answer:

$$\frac{\alpha}{\alpha + \beta}$

Question 3

When the price of a good increases, the total change in quantity demanded can be decomposed into substitution and income effects via the Slutsky equation. Under what specific condition does a good become a Giffen good?

The good is an inferior good, but the substitution effect dominates the income effect. The cross-price elasticity of demand is strictly positive, making the good a gross substitute for all other consumption goods. The good is an inferior good, and the negative income effect outweighs the negative substitution effect in absolute magnitude. The good is a normal good, and the positive income effect reinforces the negative substitution effect.

Correct Answer:

The good is an inferior good, and the negative income effect outweighs the negative substitution effect in absolute magnitude.

Question 4

Let $V(p_1, p_2, I)$ be the indirect utility function of a rational consumer facing strictly positive prices and income. According to Roy's Identity, how is the Marshallian demand for good $i$, $x_i(p, I)$, derived from $V(p, I)$?

$$x_i(p, I) = -\frac{\partial V(p, I) / \partial I}{\partial V(p, I) / \partial p_i}$ $$x_i(p, I) = \frac{\partial E(p, u) / \partial u}{\partial E(p, u) / \partial p_i}$ $$x_i(p, I) = \frac{\partial V(p, I) / \partial p_i}{\partial V(p, I) / \partial I}$ $$x_i(p, I) = -\frac{\partial V(p, I) / \partial p_i}{\partial V(p, I) / \partial I}$

Correct Answer:

$$x_i(p, I) = -\frac{\partial V(p, I) / \partial p_i}{\partial V(p, I) / \partial I}$

Question 5

Let $e(p_1, p_2, u)$ be the expenditure function of a consumer with continuous and strictly monotonic preferences. Which property is NOT a general mathematical property of the expenditure function?

It is strictly concave in target utility $u$. It is concave in prices $p$. It is homogeneous of degree 1 in prices $p$. It is strictly increasing in target utility $u$ for all $p \gg 0$.

Correct Answer:

It is strictly concave in target utility $u$.

Question 1

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ENADE Ciências Econômicas Practice Questions - ENADE Ciências Econômicas - Exame Nacional de Desempenho dos Estudantes Exam

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